FRESH BRANDS CAUTIONS INVESTORS

SHEBOYGAN, Wis. -- Fresh Brands here said it may have to explore strategic alternatives to secure additional capital if the value proposition it introduced at its stores in November is not successful.

Writing in its 10-K filing with the Securities and Exchange Commission, the company said strategic alternatives could include the sale of some assets, including stores; the outsourcing of various operations; a corporate restructuring; or a business combination with another company.

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